USD/JPY offered below 119.85/120.65 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The offered tone will prevail on the pair while below the119.85/120.65 band, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.

    Key Quotes

    USD/JPY is seeing a small rebound/holding sideways very near term. Intraday rallies are indicated to falter circa 118.40”.

    “The market will find resistance at 119.85/120.65 and while capped here it will remain offered”.

    “Scope remains to extend losses towards the 116.47 support line and the 116.15 August low”.
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